Africa: AMCON at NTM urge Nigeria to concession Airports

The Asset Management of Nigeria (AMCON), has called on the Federal Government to concession the country’s 22 airports to make them more functional and viable. The Managing Director Asset Management of Nigeria, Ahmed Lawan Kuru who at the third edition of Colloquium 2018 organised by Nigeria Travels mart.com, said it is in the interest of the nation and the aviation […]

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Africa: FG, AMCON undecided over Arik, Aero Contractors airlines

Arik airlines amcon

The Federal Government is at the crossroads in deciding what to do with the duo of Arik Air, and Aero Contractors that are currently being managed by the Asset Management Corporation of Nigeria (AMCON). Recall that AMCON took over Aero Contractors in February 2016, and a year later, also acquired the management and control of Arik Air over alleged gross […]

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Africa: AMCON to divest from Aero Contractors

Aero sanusi amcon

The Asset Management Corporation of Nigeria (AMCON) is set to divest its interest in Aero Contractors, the Chief Executive Officer of the airline, Capt. Ado Sanusi, has confirmed. “The Asset Management Corporation of Nigeria has a plan to divest its shares in Aero Contractors and I think they have been doing that with more investors and that is what they […]

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Africa: What We’ll Do With Arik Air, Aero Contractors – AMCON

arik

AMCON’s Senior Vice-President and Head of Receivership Support, Kamilu Omokide, told newsmen in Lagos on Wednesday that the company would not be delving further into the sector. The Assets Management Company of Nigeria says its involvement in aviation business is limited to the recovery of loans obtained by Arik Air and Aero Contractors Limited. AMCON’s Senior Vice-President and Head of […]

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Africa: How we restored confidence in Nigerian Aviation with the takeover of Arik and Aero- AMCON

AMCON arik

The Asset Management Corporation of Nigeria (AMCON) has revealed that the Federal Government ordered it to take over the troubled Nigerian carrier Arik Air to save it from total collapse. AMCON said that as at the time it was taking over the airline in February this year, the carrier was already enmeshed with a major crisis that would have led […]

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Africa: 350 Nigerian big men owe more money than the National deficit

AMCON

IT is no longer news that the Federal Government will be going cap in hands to raise N2.3 trillion loans from local and international sources to fund this year’s Appropriation of N7.44 trillion. What is news is that the cash trapped in the hands of some 350 Nigerians is more than the deficit in the Budget of Economic Recovery and […]

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Africa: AMCON Injects N1.5bn into Ailing Arik Air

Arik engine goes to aero AMCON Airlines

The Asset Management Corporation of Nigeria (AMCON) has injected a total of N1.5 billion into Arik Air since it took over the distressed airline in February 2017. The Chief Executive Officer of Arik Air, Captain Roy Ilegbodu, who disclosed this during an interactive session on the activities at Arik, two months after the new management team was appointed by AMCON, […]

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Aviation: Poor Management Threatens Survival of Arik Air

Arik airlines amcon

Poor Management Threatens Survival of Arik Air Industry experts have expressed worries that Nigeria’s biggest carrier, Arik Air may go under in the next few months and over 3000 workers directly employed by the airline will lose their jobs; unless the airline is taken over by efficient management with international experience. THISDAY learnt that the initial plan prior to its […]

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Aviation: FG to return 10 Arik’s aircraft stranded overseas

Arik engine goes to aero AMCON Airlines

FG to return 10 Arik’s aircraft stranded overseas Barely 24 hours after taking over the management of Arik Air, the Federal Government has pledged to return at least 10 aircraft stranded overseas into the fleet of the airline. The 10 aircraft, as at the time of change in management, were said to have gone overseas for mandatory C-checks, but said […]

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Aviation: How the Owners of Arik goofed

Arik engine goes to aero AMCON Airlines

How the Owners of Arik goofed After a decade of dominating the aviation industry in Nigeria as the largest local carrier, Arik Airline is engulfed in mortal crisis, which has set it on the same old path of many defunct Nigerian airlines like Nigerian Airways, Okada Air, Kabo Airlines, ADC Airlines, and Concord Airlines. There were also Sosoliso Airlines, Oriental […]

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